SCENARIO 5-2 a Certain Type of New Business Succeeds 60% of the of the Time.Suppose

question 73

Short Answer

SCENARIO 5-2
A certain type of new business succeeds 60% of the time.Suppose that 3 such businesses open (where they do not compete,so it is reasonable to believe that their relative successes would be independent).
-Referring to Scenario 5-2,the probability that all 3 businesses succeed is _____.

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Definitions:

Interpersonal Communications

Interpersonal communications involve the exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.

Openness

indicates a willingness to receive new ideas and experiences, often linked to creativity and adaptability.

Feedback

The process of giving, receiving, and utilizing information or opinions about performances, products, or services to improve or adjust them.

Resentment

A feeling of displeasure or indignation resulting from unfair treatment or wrongs experienced.